Goa Carbon shows unrest

In the morning trades, Goa Carbon slipped 3% to Rs.655.30. Its LC today is at 5% at Rs.641.20. It has now recovered to Rs.661 but remains in the red.

Yesterday, the company had announced that its Paradeep Unit, Odisha had been put on temporary halt due to the obstructions by the contract workers from 6:00 a.m. on 16th June 2018 with their sudden demand for raising of their retirement age.

This caused a lot of concern and that the immediate reaction of slipping sharply when it opened for trade.

But today morning, around 10.30pm, the company informed that the the issue with the contract workers at the Company''s Paradeep Unit at Vill. Udayabata, P.O. Paradeepgarh, Dist. Jagatsinghpur, Odisha has been resolved and the normalcy at the plant has been restored. 

Further, the Company has decided to extend the plant shutdown for the regular maintenance work. The production at the said plant is expected to resume shortly.